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ELYSIAN FED. SAV. v. FIRST INTERREGIONAL EQUITY

Civ. A. No. 88-3528.

713 F.Supp. 737 (1989)

ELYSIAN FEDERAL SAVINGS BANK, Plaintiff, v. FIRST INTERREGIONAL EQUITY CORPORATION, First Interregional Gvm't Securities, Inc. and Charles Belina, Defendants.

United States District Court, D. New Jersey.

May 11, 1989.

Attorney(s) appearing for the Case

Seth T. Taube, McCarter & English, Newark, N.J., for plaintiff.

Nicholas W. McClear, Wilentz, Goldman & Spitzer, Woodbridge, N.J., for defendants.

OPINION AND ORDER

LECHNER, District Judge.

Succinctly stated, in this action plaintiff has alleged the defendants committed fraud by charging plaintiff excessive mark-ups in the sale of two types of securities: collateralized mortgage obligations ("CMOs") and principal only trust certificates ("PO Trusts"). Plaintiff claims the aggregate amount of the excessive mark-ups exceeds $5 million. In addition, it is charged defendants have attempted to conceal the...

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